Sidrap Wind Farm

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The $150 million financing will be used for the construction of a 75 MW wind farm, located in the Sidrap Regency of South Sulawesi Island in Eastern Indonesia. PT UPC Sidrap Bayu Energi is the project company created for the execution of the project. The project is developed and majority owned by UPC Renewables Group with a stake of 90 per cent, and PT Binatek Reka Energi (PT Binatek Energi Terbarukan) with 10 per cent, respectively. This is a greenfield project initiated entirely by private sector. The Project will be Indonesia’s first utility scale wind farm and is in construction and scheduled to be producing power to the So. Sulawesi PLN grid in late 2017. The project consists of 30 modern and very efficient Gamesa 2.5MW turbines. UPC Sidrap Bayu Energi has signed a power purchase agreement (PPA) with PT PLN (Persero) for a duration of 30 years. The project cost is estimated at $150 million, with $120 million of debt funding and $30 million sponsors' equity. The debt funding is provided by OPIC and SMBC, $60 million each on a 16.5-year term loan basis. Currently, the farm is under construction. https://www.opic.gov/press-releases/2016/opic-and-pt-upc-sidrap-bayu-energi-partner-expand-indonesias-capacity-generate-clean-energy https://ijglobal.com/data/transaction/35941/sidrap-wind-farm-75mw